CNB Financial Co. (NASDAQ:CCNE) Stock Holdings Decreased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lessened its position in CNB Financial Co. (NASDAQ:CCNE) by 16.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 133,742 shares of the bank’s stock after selling 27,246 shares during the quarter. Wealth Enhancement Advisory Services LLC owned approximately 0.64% of CNB Financial worth $2,727,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CCNE. New York State Common Retirement Fund boosted its position in shares of CNB Financial by 14.6% in the fourth quarter. New York State Common Retirement Fund now owns 7,878 shares of the bank’s stock worth $178,000 after buying an additional 1,006 shares during the period. PNC Financial Services Group Inc. grew its stake in CNB Financial by 41.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,841 shares of the bank’s stock valued at $200,000 after acquiring an additional 2,599 shares in the last quarter. Beese Fulmer Investment Management Inc. acquired a new position in shares of CNB Financial in the 4th quarter valued at about $212,000. SG Americas Securities LLC lifted its position in shares of CNB Financial by 26.5% in the fourth quarter. SG Americas Securities LLC now owns 11,175 shares of the bank’s stock worth $252,000 after purchasing an additional 2,343 shares in the last quarter. Finally, Staley Capital Advisers Inc. acquired a new stake in shares of CNB Financial during the fourth quarter worth approximately $258,000. Institutional investors and hedge funds own 52.35% of the company’s stock.

CNB Financial Trading Down 2.3 %

NASDAQ:CCNE opened at $19.83 on Thursday. The company has a market capitalization of $416.51 million, a P/E ratio of 8.33 and a beta of 0.71. The stock’s 50 day moving average price is $19.53 and its 200 day moving average price is $20.29. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.94 and a current ratio of 0.94. CNB Financial Co. has a 52 week low of $17.21 and a 52 week high of $23.40.

CNB Financial (NASDAQ:CCNE) last announced its quarterly earnings results on Monday, April 15th. The bank reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. CNB Financial had a net margin of 15.96% and a return on equity of 10.73%. The company had revenue of $54.18 million for the quarter, compared to analyst estimates of $55.00 million. On average, research analysts forecast that CNB Financial Co. will post 2.23 EPS for the current fiscal year.

CNB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were paid a dividend of $0.175 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.70 annualized dividend and a dividend yield of 3.53%. CNB Financial’s dividend payout ratio (DPR) is presently 29.41%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods cut their target price on shares of CNB Financial from $23.00 to $22.00 and set a “market perform” rating for the company in a research report on Wednesday, April 17th. StockNews.com raised CNB Financial from a “hold” rating to a “buy” rating in a research report on Tuesday.

About CNB Financial

CNB Financial Corporation operates as the bank holding company for CNB Bank that provides a range of banking products and services for individual, business, governmental, and institutional customers. The company accepts checking, savings, and time deposit accounts; and offers real estate, commercial, industrial, residential, and consumer loans, as well as various other specialized financial services.